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27-43-8
Section 27-43-8 Filing of application for certificate of authority; contents of application;
issuance of certificate. (a) The incorporators shall file with the commissioner an application
for a certificate of authority to do business upon a form to be furnished by the department,
which shall include or have attached the following: (1) The names and, for the preceding 10
years, all addresses and all occupations of all incorporators and proposed directors and officers;
(2) A certified copy of the corporate articles and bylaws and a list of the names, addresses,
and occupations of all directors and principal officers and, if previously incorporated, for
the three most recent years, the corporation annual statements and reports; (3) All agreements
relating to the corporation to which any incorporator or proposed director or officer is a
party; (4) A statement of the amount and sources of the funds available for organization expenses
and the proposed arrangements for reimbursement and...
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27-2-26
Section 27-2-26 Witnesses and evidence for examination, investigation or hearing - Generally.
(a) As to the subject of any examination, investigation, or hearing being conducted by him,
the commissioner may subpoena witnesses and administer oaths or affirmations and examine any
individual under oath or take depositions and, by subpoena duces tecum, may require and compel
the production of records, books, files, documents, and other evidence. (b) Witness fees and
mileage, if claimed, shall be allowed the same as for testimony in a circuit court. Witness
fees, mileage, and the actual expense necessarily incurred in securing attendance of witnesses
and their testimony shall be itemized and shall be paid by the person being examined if in
the proceedings in which such witness is called such person is found to have been in violation
of the law or by the person, if other than the commissioner, at whose request the hearing
is held. (c) Subpoenas of witnesses shall be served in the same manner...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2-26.htm - 2K - Match Info - Similar pages
27-31B-10
Section 27-31B-10 Examinations and investigations. (a) At least once in three years,
and whenever the commissioner determines it to be prudent, the commissioner shall visit each
captive insurance company and thoroughly inspect and examine its affairs to ascertain its
financial condition, its ability to fulfill its obligations, and whether it has complied with
this chapter. The commissioner, upon application, may enlarge the three-year period to five
years, provided the captive insurance company is subject to a comprehensive annual audit during
that period of a scope satisfactory to the commissioner by independent auditors approved by
the commissioner. The expenses and charges of the examination shall be in accordance with
Section 27-2-25. (b) All examination reports, preliminary examination reports or results,
working papers, recorded information, documents, and copies thereof produced by, obtained
by, or disclosed to the commissioner or any other person in the course of an examination...
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27-8A-9
Section 27-8A-9 Collection of fees; deposit in State Treasury. (a) The commissioner
shall collect the following fees in the administration and enforcement of this chapter: (1)
License renewal fees paid in connection with the biennial application for license renewal
by producers and service representatives... $70. (2) Late filing fee, to be paid by each producer
and service representative failing to timely renew a license... $50. (3) Provider authority
initial filing fee, a one-time fee to be paid by each education course provider for authority
to offer continuing education courses in this state... $300. (4) Provider authority annual
renewal fee, to be paid by each education course provider for continuation of authority to
offer continuing education courses in this state... $100. (5) Course approval filing fee,
to be paid by the provider for the approval of each education course or program to be offered
in this state (one-time fee per course, with no need...
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27-9A-3
Section 27-9A-3 Independent adjuster defined; exclusions. (a) For purposes of this chapter,
an "independent adjuster" is a person who, for compensation as an independent contractor
or as an employee of an independent contractor, undertakes on behalf of an insurer to ascertain
and determine the amount of any claim, loss, or damage payable under a contract of property,
casualty, or workers' compensation insurance or to effect settlement of such claim, loss,
or damage. This chapter shall not be construed to permit persons not licensed as attorneys
to engage in activities constituting the practice of law. (b) An independent adjuster does
not include any of the following: (1) Attorneys-at-law admitted to practice in this state
when acting in their professional capacity as an attorney. (2) A salaried employee of an insurer.
(3) A person employed solely to obtain facts surrounding a claim or to furnish technical assistance
to a licensed independent adjuster. (4) An individual who is employed...
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27-3-21
Section 27-3-21 Suspension or revocation of certificates - Additional grounds; notice
and hearing. (a) The commissioner may, in his discretion, suspend or revoke an insurer's certificate
of authority if, after a hearing thereon, he finds that the insurer has willfully violated
any material provision of this title other than those for which suspension or revocation is
mandatory or has failed to pay applicable taxes with respect to a preceding calendar year
as required by this title. (b) The commissioner shall, after a hearing thereon, suspend or
revoke an insurer's certificate of authority if he finds that the insurer: (1) Is in unsound
condition, or is in such condition or is using such methods and practices in the conduct of
its business as to render its further transaction of insurance in this state hazardous to
its policyholders or to the public; (2) Has refused to be examined or to produce its accounts,
records, and files for examination or if any of its officers or agents have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-21.htm - 3K - Match Info - Similar pages
27-5B-8
Section 27-5B-8 Certified reinsurer. (a) Credit shall be allowed when the reinsurance
is ceded to an assuming insurer that is certified by the commissioner as a reinsurer in this
state and secures its obligations in accordance with the requirements of this section.
In order to be eligible for certification, the assuming insurer shall meet all of the following
requirements: (1) The assuming insurer must be domiciled and licensed to transact insurance
or reinsurance in a qualified jurisdiction, as determined by the commissioner pursuant to
subsection (c). (2) The assuming insurer must maintain minimum capital and surplus, or its
equivalent, in an amount to be determined by the commissioner pursuant to regulation. (3)
The assuming insurer must maintain financial strength ratings from two or more rating agencies
deemed acceptable by the commissioner pursuant to regulation. (4) The assuming insurer must
agree to submit to the jurisdiction of this state, appoint the commissioner as its agent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-8.htm - 9K - Match Info - Similar pages
27-10-35
Section 27-10-35 Report of, and tax on, independently procured coverages; exceptions.
(a) Anyone who may desire to place his insurance in a foreign insurer not authorized to do
business in this state may place such insurance, and any insured who in this state procures,
or causes to be procured, or continues or renews insurance in an unauthorized foreign insurer
or any self-insurer who in this state so procures or continues excess loss, catastrophe, or
other insurance, upon a subject of insurance resident, located or to be performed within this
state, other than insurance procured through a surplus line broker pursuant to the surplus
lines law of this state or exempted from such law under Section 27-10-34 shall, within
90 days after the date such insurance was so procured, continued, or renewed, file a written
report of the same with the commissioner on forms designated by the commissioner and furnished
to such an insured upon request. The report shall show the name and address of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-35.htm - 3K - Match Info - Similar pages
27-12A-1
Section 27-12A-1 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance or his or
her designee. (2) DEPARTMENT. The Alabama Department of Insurance. (3) INSURANCE. As defined
in Section 27-1-2, and specifically including any contract, arrangement, or agreement,
in which one undertakes to do any one of the following: a. Pay or indemnify another as to
loss from certain contingencies called risks. b. Pay or grant a specified amount or determinable
benefit to another in connection with ascertainable risk contingencies. c. Pay an annuity
to another. d. Act as surety. For the purposes of this chapter, insurance also includes any
health benefit plan as defined in Section 27-53-1. (4) INSURANCE PRODUCER or PRODUCER.
As defined in Section 27-7-1. (5) INSURER. A person entering into agreements, contracts
of insurance, arrangements, or reinsurance, or a health benefit plan, or a group health plan
as...
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27-3-16
Section 27-3-16 Lloyd's insurers. Aggregations of individuals as underwriters, whether
domestic, foreign, or alien, assuming insurance risks upon the plan known as "Lloyd's,"
whereby each underwriter is liable for the proportionate part assumed by him of the whole
amount so insured by a policy issued by such underwriters, may be authorized to transact any
kind, or kinds, of insurance in this state other than life or title insurances if the insurer
is otherwise in compliance with this title, subject to the following conditions: (1) If a
foreign or alien insurer, it must have successfully been in business as an authorized insurer
in the state or country of domicile for at least 10 years. (2) If a domestic insurer, it must
file with the commissioner evidence, satisfactory to him, that it has been soundly organized
and that its insurance operations will, at all times, be competently conducted by individuals
having the necessary experience in insurance underwriting and management to do so,...
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